Item 7.01. Regulation FD Disclosure.

On November 3, 2008, Uranerz Energy Corporation filed the attached news release entitled "Uranerz Drilling Update on Powder River Basin Project" announcing the 2008 exploration drilling status on its 100% held properties and for the Arkose Mining Venture (Arkose), a joint venture between the Company (81%) and United Nuclear, LLC (19%). Since the Company's last drilling update, a total of 498 uranium trend and delineation holes were drilled utilizing five drill rigs and two electric log probing units. This drilling activity was performed during the period of July 1, 2008 through October 31, 2008. Delineation drilling on the 100% held properties was conducted at east North Butte, Willow Creek, Hank, North Rolling Pin, and Doughstick. A total of 165 holes were drilled on these properties. Exploration drilling on the Arkose property continued in the Little Butte area and moved to the South Doughstick target area in September and Cedar Canyon in October 2008. A total of 333 holes were drilled on Arkose during the update period. The combined effort for both project areas during this period represents approximately 344,525 feet of drilling with an average depth of 692 feet per hole. To-date during 2008, Uranerz has drilled a total of 764 holes at an average depth of 696 feet, for a total of 531,450 feet of drilling. A summary of the best hole drilling results is available on the attached press release.

Item 9.01. Exhibits.

The following Exhibits relating to Item 7.01 are intended to be furnished to, not filed with, the SEC pursuant to Regulation FD.

(99.1) Press Release dated November 3, 2008